1. A. If the cost of barrels were to be incorporated into the inventory account (balance sheet)‚ then the cost of barrels used (Income statement) can be reduced. From 1960-1961‚ Booker Jones increased its barrels produced from 43‚000 barrels to 63‚000 barrels. That is 20‚000 barrel increased in just one year. The cost per barrels is $31.50. (20‚000 * 31.50= $630‚000) We can reduce the cost per barrel expense from income statement of $630‚000. (-407‚000+630‚000= 223‚000) Therefore‚ pretax
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An oil spill can be defined as an accidental or deliberate dumping of oil or petroleum products into the ocean and its coastal waters‚ bays‚ and harbors‚ or onto land‚ or into rivers or lakes (Holum 1977). Between one and ten million metric tons (one metric ton is 1000 kilograms) of oil are put into the oceans every year. The oil is released‚ most often‚ in small yet consistent doses from tankers‚ industry‚ or on shore waste disposal (Boesh‚ Hersher‚ et al. 1974). Tanker spills cost the United
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Tarbell’s The History of the Standard Oil Company she mentions‚ "Mr. Rockefeller has systematically played with loaded dice‚ and it is doubtful if there has ever been a time ... when he has run a race with a competitor and started fair." Monopolies do not play fair with the competition John D. Rockefeller created Standard Oil’s Company in 1870. He believed the most profit from oil was found in refining it‚ not drilling. Rockefeller described the competition in oil refining as "chaotic". He then began
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the Indian Edible Oil Industry India is world’s third largest edible oil economy‚ after China and US. India’s annual consumption is around 10 million tones vis-à-vis China’s 14.5 million tones. However‚ India’s per capita consumption at 10.2 kgs per annum is considerably lower compared to global standards. India is also a leading producer of oilseeds‚ contributing 7-8% of world oilseed production. India is estimated to account for around 6% of the world’s production of edible oils. Though it has the
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Mineral oil is most commonly put to use in our daily lives as baby oil‚ which has a fragrance added to it. It is clear‚ odorless and colorless. It is formed as a by-product during the distillation of petroleum from crude oil‚ to produce gasoline and other petroleum-based products. It is produced in very large quantities and is inexpensively available in drug stores. Due to its easy availability and low value‚ it is put into use in a wide range of avenues. As a Laxative Doctors often recommend
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HIGH OIL PILFERAGE Rossly : Good point Rosmee. Well done. You have done a very good job. Rossly : So have you find any solution regarding high oil pilferage that we are facing right now? Any information about what I ask you to find last week? Rosmee : Yes sir. I have done a research for that. But before that‚ let me highlight once again about the problems. Currently‚ our tankers are missing and not arrived at the destination‚ our palm oils’ quality is compromised and because of our bad performance
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Essential oils have been used for thousands of years. It has been recorded that many ancient cultures have used essential oils as their main source of medicine. Today‚ for many people‚ the essential oils are still a common method of medicine. These oils have also been of good personal use to me and my family. Some of our top uses were to help in aide in the recovery of my dad’s cancerous issues‚ to cure me and my mom’s painful migraines‚ to resolve my sleep and anxiety problems‚ to boost my immune
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EDIBLE OIL SECTOR. According to the Humburg –based world Trade Journal global production of oils & fats stood at 160 million tons in 2009. There are two sources of fats and oils; those extracted from vegetables such as coconuts‚ cotton seeds‚ cashewnuts‚ groundnuts‚ sunflower seeds‚ simsime‚ soya beans‚ maize germ and palm fruits and those extracted from milk animal meat. In Kenya the preference source of oils and fats and oils is extracted from vegetable oils with domestic production at 380
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Olive oil is a fat obtained from the olive‚ a traditional tree crop of the Mediterranean Basin. The oil is produced by grinding whole olives and extracting the oil by mechanical or chemical means. It is commonly used in cooking‚ cosmetics‚ pharmaceuticals‚ and soaps and as a fuel for traditional oil lamps. Olive oil is used throughout the world‚ but especially in the Mediterranean countries. History The olive tree is native to the Mediterranean basin; wild olives were collected by Neolithic
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THE FUTURE OF OIL Contents 1. Extreme oil--from the deep Atlantic to the arctic‚ from fracking in the U.S. to sands in Canada--is replacing dwindling supplies. But it comes at a heavy economic and environmental cost 2. The Bakken Boom 3. Boom and Bust 4. The True Price of Oil 5. OIL ON THE EDGE 6. TIGHT OIL 7. ARCTIC OFFSHORE 8. PRESALT DEEPWATER 9. OIL SHALE 10. OIL SANDS 11. HOW SPIKING OIL AFFECTS YOU 12. A RECORD PRICE FOR REGULAR 13. INCOME
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